Business: Less Developed, More Divided

The LDCs lower their expectations for a new economic order

United by poverty, Third World nations have long called for a "new international economic order"—a grand transfer of wealth, resources and economic decision-making power from the industrial countries to the poorer lands. But lately, changes among Third World members have divided the once harmonious group into a company of often competing soloists. The divisions were apparent in Manila at the fifth meeting of the United Nations Conference on Trade and Development (UNCTAD v), the forum where the developing countries present their complaints to the wealthier nations. After a month of sometimes...

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